The average insurance policyholder has limited experience dealing with insurance companies. Most policyholders, for example, have never had to make a major claim.
Insurance companies often take advantage of this fact. They do things that don’t catch the attention of a naïve policyholder.
Today, we’re revealing some of the biggest secrets your insurance company doesn’t want you to know.
Insurance Companies Don’t Want You to Hire a Public Adjuster or an Attorney
First, let’s start with something obvious: the last thing an insurance company wants is for you to hire a public adjuster. A public adjuster negotiates with the insurance company on your behalf, fighting for a higher settlement and pushing for more money.
It’s in the insurance company’s best interests to close your claim as quickly as possible while paying the lowest amount they’re legally required to pay – they don’t want you to hire a public adjuster or attorney.
Independent Adjusters Are Not your Friend
There are three types of adjusters who might work on your case:
Company Adjuster: This is the adjuster employed by your insurance company to handle claims.
Independent Adjuster: An independent adjuster is hired by your insurance company for specific cases – say, when there’s a dispute. The independent adjuster is paid by your insurance company on a per-claim basis. They’re not full-time employees.
Public Adjuster: A public adjuster is hired by the policyholder. A public adjuster represents the policyholder’s best interests.
If you talk to your insurance company, they might describe the independent adjuster as being “on your side” or being “your friend”.
In reality, the independent adjuster is a paid contractor hired by your insurance company. Their primary interest is to protect the bottom line of your insurance company. Don’t be fooled into thinking the independent adjuster is on your side. See also Public Adjusters Vs Independent Adjusters.
Insurance Companies May Try to Trap You By Asking for Recorded Statements and Medical Authorizations
Your insurance company might request things like recorded statements and signed medical authorizations. You, the naïve policyholder, might think these are straightforward things to request.
However, your insurance company wants these documents for two main reasons.
First, they want you to make a statement like, “It was partly my fault” or “I wasn’t that badly hurt.”
Second, they want to get access to your medical records. After gaining access to your medical records, the insurance company can use your medical records against you.
In either situation, you’ll get paid significantly less on your claim.
Independent Adjusters Are Some of the Best Negotiators on the Planet
Your insurance company’s adjusters – including company adjusters and independent adjusters – are professional negotiators. Like a good poker player, these adjusters will bluff their way to the lowest possible settlement.
You might hear your adjuster say things like, “That’s the best offer I can make,” or, “If you don’t accept this offer in 48 hours, then it’s going away.”
The adjuster might also try to take your side and place the blame on the insurance company. The adjuster might say something like, “Personally, if I were you, I’d take this offer; these guys aren’t going to budge.”
You can trust a public adjuster to represent you in a professional way. The adjusters hired by your insurance company, however, will use proven negotiation tactics to achieve the lowest possible settlement.
Insurance Companies Don’t Want Cases to Go to Court
An insurance company, like any good negotiator, will demonstrate a willingness to go to court. If there’s a dispute, then the insurance company might appear willing to take the case to court.
In reality, the last thing an insurance company wants to do is go to court. It’s always in the insurance company’s best interests to push for a settlement.
Don’t be fooled into thinking your insurance company is eager to go to court. Like many other strategies used by your insurance company, this is a negotiation tactic.
Insurance Companies Generate Enormous Profits Every Year
Don’t be fooled into thinking your insurance company is some mom-and-pop business fighting to keep the lights on every month.
Most insurance companies in the United States are multibillion dollar corporations. They make billions of dollars per year. Your claim is just one small segment out of millions of insurance company portfolios.
Remember: you signed a legal contract with your insurance company to receive compensation after a disaster. It’s quite literally your insurance company’s job to provide compensation according to the terms of that contract.
Insurance Companies Spend Millions of Dollars on Lobbying and Politicians
Nobody likes getting sued – even your insurance company. That’s why insurance companies have spent millions of dollars on lobbyists and politicians. The goal is to limit the right of policyholders to sue insurance companies that act in bad faith.
With that in mind, certain states have laws preventing policyholders from suing insurance companies. That means even if your insurance company acts in bad faith, you have limited recourse. Your insurance company knows this – and they’ll often take advantage of you.
Conclusion: Your Insurance Company Hates When You Hire a Public Adjuster & Push Back
Hire a public adjuster today with help from ClaimsMate, your local public adjuster search specialist.
The last thing your insurance company wants is for you to hire a public adjuster. Your insurance company wants you to accept the first offer and close the case. By hiring a your own private adjuster, you’re standing up for your rights. You’re holding your insurance company accountable for every penny owed to you under the terms of your policy – and that’s something your insurance company absolutely doesn’t want you to know.